Crypto firm Voyager Digital files for bankruptcy

US-based cryptocurrency brokerage firm Voyager Digital has announced that it has filed for bankruptcy.

According to the statement made by the US-based cryptocurrency brokerage firm Voyager Digital, the debt restructuring process has been initiated in accordance with Section 11 of the US Bankruptcy Law.

In the statement, it was stated that the company had over $110 million in cash and crypto assets to provide liquidity to support daily operations, and it was pointed out that it was aimed to pay employees as usual and to maintain certain customer programs without interruption.

Voyager Chief Executive Stephen Ehrlich, whose views were included in the statement, underlined that comprehensive restructuring is the best way to protect assets on the platform and maximize value for all stakeholders, including customers.

Ehrlich emphasized that the volatility in the cryptocurrency markets and the defaults of crypto investment fund Three Arrows Capital over the past few months require Voyager Digital to take deliberate and decisive action.

Source: Trthaber / Translated by Irem Yildiz

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